Some notes I have collected on how to become rich

Hard Boiled

Sotokomori
Jul 31, 2022
1,213
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  1. Becoming rich is like mining oil. The closer you are to the source of wealth the more likely you going to become rich. Therefore industries such as Government contracting and financing are going to offer the best returns.
  2. Being able to generate a 0.1% improve to 100% of an industry is going to make you 1000x richer than providing a 100% improvement to 0.1% of the economy.
  3. Exploitation and psychopathy are the quickest ways of making money. For example, the landlord crisis in the UK - since the industry is so poorly regulated landlords can get away with a lot of shit.
  4. Industry expertise knowledge trumps all else.
  5. If your CV is underqualified and you need to sell yourself use the expertise of your network and the people who work for you in order as social proof.
  6. Keep your employee's wages low.
  7. Running charities are a great way to become rich.
  8. The way businesses are set up to grow today often require a VC approach i.e you need money to make money.
  9. Turn your first few sales into a case study and use that as social proof.
  10. The make money online industry is bullshit.
  11. Create proof of concepts and sell them to other people until you find the idea that you want stick with.
  12. Buying an existing company and upgrading it is often better than starting one for scratch if you want to get into a competitive niche.
 
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